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Bumitama Agri's positive 1Q results beat analyst expectations

Broker's Calls

Bumitama Agri's positive 1Q results beat analyst expectations

Jeffrey Tan Published on Wed, May 13, 2020 / 3:54 PM GMT+8

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SINGAPORE (May 13): Stronger crude palm oil (CPO) prices and lower unit costs have enabled Bumitama Agri’s 1Q FY20 results to exceed analyst expectations.

The company’s earnings of IDR262.07 billion ($25 million) beat RHB Securities’ 1Q forecast, comprising 35% of the brokerage’s FY20 forecast.

It also beat Maybank Kim Eng’s 1Q earnings forecast, comprising 29% of the brokerage’s FY20 forecast.

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